South Carolina Code 54-3-118. Public-private partnerships to increase capital investments in port facilities
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 54-3-118
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
It is the intent of the General Assembly that the State Ports Authority board consider public-private partnerships with private investors that increase capital investments in port facilities and in the State of South Carolina. However, the board retains all authority associated with entering a public-private partnership on behalf of the port.